Bessent Meets He Lifeng, Paving Way for Trump-Xi Summit

U.S. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York City on Sunday, laying the groundwork for an upcoming summit between President Donald Trump and President Xi Jinping.

The discussions were aimed at addressing key economic issues, including artificial intelligence, tariffs, and rare earths.

Bessent Expects "Focused, Substantive" Talks

Bessent said on platform X that the talks were crucial to laying the foundation for the upcoming summit scheduled for September 24 in Washington, D.C. He emphasized the importance of these discussions in advancing U.S. economic interests and delivering results for the American people.

In New York City, Vice Premier He Lifeng and I are continuing our discussions on U.S.-China economic and trade relations ahead of the historic summit between @POTUS and President Xi Jinping in Washington. These talks help lay the groundwork for President Trump to advance the U.S. economy...

— Treasury Secretary Scott Bessent, September 20, 2026

According to CNBC, ahead of the talks at JPMorgan, Bessent said he expected "focused, substantive, and constructive talks" to pave the way for the summit. The meeting comes ahead of Xi's significant visit to Washington, marking his first trip to the U.S. during Trump's second term.

The talks also come amid ongoing debates in Washington over AI safety and national security, with the Trump administration advocating voluntary safeguards. Reports indicate that prominent figures such as JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser are expected to attend the state dinner during Xi's visit.

Prelude to the Trump-Xi Summit

The Bessent-He Lifeng meeting serves as a prelude to the high-stakes summit between Trump and Xi, which comes amid heightened technology and trade tensions. Nvidia CEO Jensen Huang is reportedly expected to attend the state dinner with Trump and Xi, underscoring the importance of technology discussions during the summit.

Additionally, China's top newspaper accused the U.S. of "blatant double standards" on artificial intelligence, highlighting AI's significance as a new frontier for human development. This underscores the critical nature of AI discussions between the two nations.

Separately, President Trump has announced plans to appoint a new AI advisor and establish an "AI force," signaling the administration's strategic focus on artificial intelligence.